GenCos Incur N27.14bn losses, 4,724.76MW stranded

With Electricity Distribution Companies, DisCos, unwilling to offtake available power, Generation Companies, GenCos, have disclosed that they lost N27.14 billion in January and February 2024 after 4,724.76MW capacity was left stranded.

Data posted by the Association of Power Generation Companies, APGC, showed that in January while available power generation capacity was 6,444.05 Megawatts actual average daily generation was 4,293.86MW, leaving 2,150.37MW of power stranded at a loss of N13.04 billion.

In February, available power generation capacity was 6,384MW while actual average daily generation was 3,809.96MW leaving 2,574.39MW of capacity unutilised at a cost of N14.10 billion.

In a note obtained from the CEO, APGC, Dr. Joy Ogaji however explained that contrary to the narrative in the public domain, power generation was not the problem in the sector.

She claimed that GenCos were being paid only 30 percent of their invoice, wondering how the plants were expected to operate efficiently in such an environment.

“The narrative out there has been that there is not enough generation. But has anyone bothered to check the NSONG (the portal for generation and distribution data managed by the National System Operator) to see if the declared capacity and availability was fully utilised ever in the history of our power consumption?

“Then what is the discussion around remittances or payments? Can 30% of half (energy without capacity payments) your invoice component sustain any business? Given that demand drives production. Are we really ready for optimal supply?, she queried.

Commenting on the issue, the President, Nigeria Consumer Protection Network, Mr. Kunle Olubiyo bemoaned the present poor state of power supply in the country, stressing that the “situation is getting worse with energy crisis in Nigeria

“Nobody sleeps with light (power) again and the hot weather is not helping matters. The Federal Government needs to resolve the issues with pre-privatisation exercise, legacy debts and post pivatisation era debts to gas producers/gas suppliers”.

Tinubu Appoints Chioma Awuzie Substantive Rector, Fed Poly Oko

President Bola Ahmed Tinubu has approved the appointment of Dr. Chioma Irene Awuzie as the substantive Rector of Federal Polytechnic, Oko, Anambra State. Dr. Awuzie's appointment, which takes effect immediately for a five-year term, follows the recommendation of the Polytechnic's Governing Council, chaired by Sen. Dr. Barnabas Gemade, after a transparent and competitive selection process where she emerged as the leading candidate. Prior to her appointment, Awuzie, who holds a Doctorate Degree in Physical and Materials Chemistry, was a distinguished Chief Lecturer in the Department of Science Laboratory Technology (Chemistry Option) and also Director in-charge of Tertiary Education Trust Fund (TETFund) Projects in the Polytechnic. Under her stewardship, Federal Polytechnic, Oko, witnessed unprecedented advancements in infrastructure and institutional transformation. Her leadership facilitated monumental developments across the Polytechnic’s campuses in Oko, ...

#Watchvideo : SECURITY FORCES BURST THE CAMP OF UNKNOWN GUNMEN IN AKOKWA

Security Forces in the state through a coordinated intelligence report has bursted the camp of the unknown gunmen at Akokwa, Arondizuogu after a long gun duel which resulted to the death of some of the criminals and others arrested. These criminal elements have been known to be behind several attacks in the state such as the killing of police men in Mbaise, Aba Branch in Ehime Mbano, burning down of police stations, attack and attempted kidnapping of former Governor Ikedi Ohakim, abduction of Miss. P.P. Johnson, a female soldier in Okigwe and recently the attack in Akokwa that left many dead. It is obvious that these daredevil gunmen have been perpetuating their evil plans unabated until yesterday when their camp was bursted by security agencies. This is another assurance that our security operatives are leaving no stone unturned in the fight against banditry and other related activities. While it has become obvious that the activities of these non state actors are politically motivate...

Valentine Ozigbo Resigns from Labour Party

In a shocking move, against all speculations over the last few days, Valentine Ozigbo, a close ally of Peter Obi, has announced his resignation from the Labour Party (LP). Ozigbo confirmed his decision to Diaspora Digital Media on Wednesday, February 19, 2025, but declined to provide further details, opting instead to share his reasons during an interactive session on X (Twitter) Space. The session, scheduled for 8 PM, will feature Ozigbo in conversation with Anambra's First Son, @uchepokoye, discussing pressing issues affecting Anambra State, including security challenges, societal fabric collapse, and the hope for a better future. Ozigbo's resignation has sparked interest, with many awaiting his detailed explanation for leaving the Labour Party. His decision comes at a critical time for the party, which has been navigating various challenges in recent months. Credit: Diaspora Digital Media

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